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Budget 2014: HMRC gets greater powers to fight tax avoidance

Chancellor George Osborne will boost HM Revenue & Customs’ powers as part of plans to tackle tax avoidance.

He says the Government will “modernise and strengthen HMRC’s debt collection powers.”

The Government plans to give HMRC the power to recover tax directly from debtors’ bank accounts where they owe more than £1,000 and have previosuly been contacted about paying the tax. 

The Treasury says the new power will bring the UK tax authorities in line with France and the US tax authorities, which already have this power.



Budget 2014: OBR revises growth forecasts up to 2.7% for 2014

The Office for Budget Responsibility has revised its growth forecasts upwards from 1.8 per cent to 2.7 per cent for 2014. Delivering his Budget address today, chancellor George Osborne said the updated forecasts represented the biggest upward revision to growth for 30 years. The OBR now forecasts that growth will fall to 2.3 per cent […]


Are exotic Sipp investments an endangered species?

One of the key attractions of Sipps is their ability to hold weird and wonderful investments.  Clients who want their Sipps to be the pension equivalent of a tropical fishtank can fill their boots with non-standard investments such as a zoo, airport or football club. Nothing is expressly prohibited in the rules. Since HMRC tore […]

Sub-Saharan Africa Near-Term Outlook

By Paul Caruana-Galizia, Neptune Economist

Sub-Saharan Africa’s economic renaissance continues. After growing at an average rate of five per cent over the past decade, the IMF projects an acceleration to 5.5 per cent growth among Sub-Saharan economies in the next two years, as developed economies emerge from the crisis. We expect this growth to be sustainable for three broad reasons.


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